12/8/08

Our hearts go out to the indigent managers at Morgan Stanley who are subjected to diminished bonuses with strings attached.

Morgan Stanley’s three top executives — John J. Mack, the chief executive, and the co-presidents, James P. Gorman and Walid A. Chammah — will not be paid bonuses, the firm said. Bonuses for the bank’s 14-person operating committee will be cut by 75 percent.

What? You fainted when you read that they will receive any bonus at all this dismal recession year? There, there. You must learn to feel their pain. Story...

And you must learn to hum a few bars of the Painful Morgan Stanley Bonus Claw-Back Polka.